Auto Enrolment: Pension contributions increase April 2018
By law, on 6 April 2018, the minimum contributions payable into auto enrolment pension schemes will increase from 2% to a total of 5% of qualifying earnings (i.e. earnings between the lower earnings level (LEL) and upper earnings level (UEL) for national insurance purposes). The employer must contribute at least 2%. Employees will contribute the shortfall to make up the total.
Read more on our latest fact sheet here.